USDCAD Market Outlook | Alchemy FX Weekly Breakdown.
USDCAD
Big movement to the downside as previously expected. We are currently floating around strong support, but overall we are looking very bearish. After a big push down there will always be a short retest to the upside followed by possible strong movement to the downside to continue the overall trend. UC is a tricky one because if we do sustain at these levels we could start climbing back to the upside. That being said, as mentioned I’m favoring more downside moment.
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Big movement to the downside as previously expected. We are currently floating around strong support, but overall we are looking very bearish. After a big push down there will always be a short retest to the upside followed by possible strong movement to the downside to continue the overall trend. UC is a tricky one because if we do sustain at these levels we could start climbing back to the upside. That being said, as mentioned I’m favoring more downside moment.
To see our full market break down join our Forex Telegram Channel link in my bio!
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